In the column today in the WaPo by George Will, the Dean of conservative intellectuals, he gets around to the true, underlying cause of the financial/economic crisis we are in: the love we all have for living beyond our means, piling up debt at our every level of our lives, personal and public.
"Government should budget the way households supposedly do, conforming outlays to income. But the crisis came partly because so many households decided that it would be jolly fun to budget the way government does, hitching outlays to appetites."
"Beneath Americans' perfunctory disapproval of government deficits lurks an inconvenient truth: They enjoy deficits, by which they are charged less than a dollar for a dollar's worth of government. Conservatives participate in this, even though deficits fuel government's growth by obscuring its cost."